Business, 22.08.2020 22:01 lhecker007

May Bakery, Inc. reported a prior-period adjustment in 2016.An accounting error caused net income of prior years to be overstated by $6,000.Retained Earnings at December 31, 2015, as previously reported, was $39,000.Net income for 2016 was $72,000, and dividends declared were $23,000.Prepare the company's statement of retained earnings for the year ended December 31, 2016.

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May Bakery, Inc. reported a prior-period adjustment in 2016.An accounting error caused net income of...

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